Paris,a 60% Partner in Omega Partnership,has a Basis of $25,000

question 29

Multiple Choice

Paris,a 60% partner in Omega Partnership,has a basis of $25,000 in her partnership interest.Paris receives a cash distribution of $24,000 at year-end.What is Paris's basis in her partnership interest at the end of the year?

• A)$0.
• B)$1,000.
• C)$24,000.
• D)$25,000.

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Definitions:

Numerical Data

Information that is quantifiable and can be assigned numerical values, used in statistical analysis.

Positive Correlation

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.

Variable Increases

A situation in which a variable shows a rising trend or value over a given period.

Point Estimates

Single values that serve as the best guess or most plausible value of a population parameter based on sample data.